Understanding Money & Banking Pt. 1: What is Money?

PaulMcKeever Says:

Jul 6, 2008 - What makes a gold coin valuable, to you, is the fact that you *own* it. If you have a gold coin in your hand, but it belongs to me, you hold no money...I do, even though the gold coin is in your hand. The reason? The guns defend my claim to control over the use of that gold. And, when I trade, what I trade is my ownership of the coin, not the coin itself. I can, for example, trade my ownership of the coin for an hour of labour...all while leaving the coin in your hand. You cannot.

PaulMcKeever Says:

Jul 6, 2008 - My first sentence should have read: "What makes a gold coin in your hand MONEY is the fact that you own it."

claytonlisa Says:

Jul 6, 2008 - I agree, I'm not trying to overthrow contract law. That said, contract, vis-a-vis debt, is not a sound basis for money because it is not sufficiently costly to produce, so it is highly non-conserved. This leads, ironically, to breach of contract (inflation). Inflation is breach of contract on the part of the inflating bank to its depositors, for which they should be able to sue the bank. Nowadays, this breach is always subsidized or even practiced by the government.

kenjikitahara Says:

Jul 16, 2008 - Thank you for sharing this video. I appreciate it.

truthsabre7 Says:

Jul 19, 2008 - A fed note is a promise to pay in money.

nooriginalthoughts Says:

Jul 23, 2008 - God DAMN, this is dull. He should pay more attention to his driving, than trying to give a lecture on THE BLEEDING OBVIOUS!

nooriginalthoughts Says:

Jul 24, 2008 - Ponder this. "Money" is a claim to the use of government force. 95% of "money" in an economy is created as debt by private banks. The remaining 5% is fiat curency printed by the central bank and loaned to the government at interest. The banks effectively control 100% of "money", and by legal definition, the claim on government force. So they control the government. Does Rothschild's quote "Give me control of a nation's money supply, and I care not who makes the laws" start to make sense...?

nooriginalthoughts Says:

Jul 24, 2008 - Then ponder this. Yanks have been encouraged to "buy" gold, and it's price is at record levels. We all know that they don't "own" it, merely hold property in it. Hmmm, remember the Gold Reserve Act of 1934 during the last Depression? Citizens had to hand over their gold to the Treasury, or face jail. They lost their right to hold property in gold. Rothschilds recently withdrew from the gold market in London. Could it be....no, surely not... Could it be....no, surely not...

nooriginalthoughts Says:

Jul 24, 2008 - The 1933 Glass-Steagall Act which was intended to protect America (and the world) from another Depression was coincidentally repealed in 1999 (which resulted in the bubbles, the financial fraud, the scandals, the greed, the impending collapse). Could it just be that in addition to raping the Baby Boomer retiree's 401k plans (via the Stock Market being worth fuck all) that they intend to bring in a new version of the Gold Reserve Act, and get all the gold too...?I hope so. Fuck em...

RichardRoy2 Says:

Jul 26, 2008 - I have a problem with your definition of a right. Nice try, but it doesn't work. It claims that there are no rights without a government. You don't seem to be talking economics; you seem to be talking law. I have to expect that from a lawyer.

PaulMcKeever Says:

Jul 28, 2008 - Most certainly I am referring to "right" in the legal sense, not in the ethics sense. It does work, and it is the definition that, in law, prevails.

CosmicFork Says:

Aug 5, 2008 - McKeever of The Freedom Party describes money and banking, Let's see, these people are against raising The Minimum Wage. In favor of privatization of Health Care and Education. Total deregulation of the electricity market.. the elimination of the provincial income tax.Sounds like the same old raw, capitalistic faith in the forces of the marketplace not only to establish price, but to establish TRUE HUMAN VALUES as well. What a crock of shit!

PaulMcKeever Says:

Aug 6, 2008 - I'll give you this: you correctly identified out policies. Thannks for doing what some others do not: read.

ssasmomruoydekcufi Says:

Aug 21, 2008 - "99% of lawyers give the rest a bad name..."He accused you of being able to read. Pity he can't write ("thannks"). Maybe his $8.75 an hour secretary was doing her second job when he posted that, so he had to write it all by himself...

madamsponge Says:

Sep 7, 2008 - Cosmic, "what a crock of shit" convincing argument!ssasmom, your proof reading is atrocious, paul also misspelled our. But i'm sure they were typos. Consider yourself lucky he even took the time to respond to you flamers.

KelferMookie Says:

Sep 18, 2008 - You sure drive for a long time... where are you going lol?

ColbertNutHugger Says:

Sep 24, 2008 - without any established group there can be no rights.if you do not have a group that is agreeing on certain things how can there be rights?with no set law you rights go as far as other people allow you.you may think you have the right to own your house but with no law i can take your house using my right as the strong conquer the weak.

DC180 Says:

Oct 3, 2008 - at 7:22, was there a hot chic walking by that distracted you? lol

Sectorsophia Says:

Oct 9, 2008 - cool video. thanks a lot!

Kurtyoungblood Says:

Oct 28, 2008 - Trojan ads?! Haha, nice

cojackohs Says:

Oct 31, 2008 - Thanks mate!

greenghost2008 Says:

Nov 18, 2008 - i didnt see one

DC180 Says:

Nov 18, 2008 - you dont see it.. im assuming by his reaction

FLStudio4512 Says:

Nov 20, 2008 - Very interesting...

dannidandannikins Says:

Nov 30, 2008 - I've just checked your channel, was very surprised to find no videos at all.I've learnt plenty of things from this guy's videos but no one has learnt anything from you, ever.